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Oliver Buchannon
Ray Calloway
The U.S. Fertility Rate Hit 1.57 Last Year — The Lowest Number Ever Recorded

Jun 24, 2026

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3 min read

The U.S. Fertility Rate Hit 1.57 Last Year — The Lowest Number Ever Recorded

Fewer babies born in 2025 means 700,000 fewer workers arriving in 2043 — fewer people paying in while more are drawing out.

Ray Calloway
Ray Calloway
Gold: $4,186 Yesterday. $1,824 Three and a Half Years Ago.

Jun 23, 2026

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2 min read

Gold: $4,186 Yesterday. $1,824 Three and a Half Years Ago.

Central banks bought 3,220 tons from 2022 to 2024. Over 1,000 tons a year, three years running. That's governments moving reserves, not traders chasing a chart.

Ray Calloway
Ray Calloway
The Federal Government Now Pays $3 Billion a Day in Interest Alone

Jun 19, 2026

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3 min read

The Federal Government Now Pays $3 Billion a Day in Interest Alone

That's more than every soldier, aircraft carrier, and base we operate worldwide — and it compounds.

Ray Calloway
Ray Calloway
$41,000 of Your $100,000 Index Fund Bets on 10 Companies

Jun 18, 2026

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3 min read

$41,000 of Your $100,000 Index Fund Bets on 10 Companies

For 25 years the top 10 stayed under 23%. Something shifted around 2015, and the number has not come back down.

Ray Calloway
Ray Calloway
Bought a House in 2021? Moving Costs $863 More a Month.

Jun 17, 2026

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3 min read

Bought a House in 2021? Moving Costs $863 More a Month.

Half of American homeowners are sitting on rates they can't afford to give up.

Ray Calloway
Ray Calloway
The Fed Chair Just Walked Into 4.2% Inflation

Jun 16, 2026

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3 min read

The Fed Chair Just Walked Into 4.2% Inflation

No one since Volcker has started with a number this high.

Ray Calloway
Ray Calloway
SpaceX Goes Public Today at 95 Times Revenue

Jun 12, 2026

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2 min read

SpaceX Goes Public Today at 95 Times Revenue

Nvidia trades at 24x. Apple at 11x. Amazon at 4x. Then there's SpaceX.

Ray Calloway
Ray Calloway
Gasoline Is Up 40% From a Year Ago. The CPI Report Just Proved It.

Jun 11, 2026

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2 min read

Gasoline Is Up 40% From a Year Ago. The CPI Report Just Proved It.

Inflation nearly doubled in five months — 2.4% to 4.2%.

Ray Calloway
Ray Calloway
Wall Street Is Paying Dot-Com Prices Again

Jun 10, 2026

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2 min read

Wall Street Is Paying Dot-Com Prices Again

The last time it happened, investors waited 12 years to break even.

Ray Calloway
Ray Calloway
The Middle-Class Economy Ended. Here's the Chart That Proves It

Jun 9, 2026

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2 min read

The Middle-Class Economy Ended. Here's the Chart That Proves It

Top earners went from 36% of spending to 50%.

Ray Calloway
Ray Calloway
Congress Just Committed $261 Billion to Immigration Enforcement

Jun 5, 2026

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2 min read

Congress Just Committed $261 Billion to Immigration Enforcement

ICE and Border Patrol's first budget was $9.2 billion.

Ray Calloway
Ray Calloway
Your Electric Bill Is Up 36% Since 2020. You Can Thank AI.

Jun 4, 2026

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2 min read

Your Electric Bill Is Up 36% Since 2020. You Can Thank AI.

The rate barely moved for 20 years. Then data centers showed up.

Ray Calloway
Ray Calloway
SpaceX Wants to Raise $75 Billion. The Biggest IPO Before It Raised $29 Billion.

Jun 3, 2026

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2 min read

SpaceX Wants to Raise $75 Billion. The Biggest IPO Before It Raised $29 Billion.

Every record-setting IPO left early buyers disappointed. Here's what the data says before June 12.

Ray Calloway
Ray Calloway
19.5 Million Factory Workers in 1979. 12.6 Million Today. Output Is Up.

Jun 2, 2026

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1 min read

19.5 Million Factory Workers in 1979. 12.6 Million Today. Output Is Up.

Yesterday's ISM report confirmed the factory floor runs on software now.

Ray Calloway
Ray Calloway
Everyone's Asking if AI Is a Bubble. Last Night, Dell Answered.

May 29, 2026

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2 min read

Everyone's Asking if AI Is a Bubble. Last Night, Dell Answered.

Cisco in 2000: P/E of 470. Nvidia today: 33. Big difference.

Ray Calloway
Ray Calloway
The Oil Reserve Was Full in 2010. By August, It Won't Be.

May 28, 2026

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2 min read

The Oil Reserve Was Full in 2010. By August, It Won't Be.

727 million barrels down to 243 million. Two drawdowns in four years.

Ray Calloway
Ray Calloway
Record-High Stocks. Record-Low Confidence. Something Doesn't Add Up.

May 27, 2026

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2 min read

Record-High Stocks. Record-Low Confidence. Something Doesn't Add Up.

The gap between Wall Street and your grocery bill has never been wider.

Ray Calloway
Ray Calloway
America Spent 37% of GDP on Defense in 1944. Today It’s 3.4%.

May 26, 2026

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1 min read

America Spent 37% of GDP on Defense in 1944. Today It’s 3.4%.

The day after Memorial Day is a good time to ask what we're actually willing to pay.

Ray Calloway
Ray Calloway
It Took 18 Years to Go from Dow 10,000 to 20,000. The Last 10,000 Points Took Two.

May 22, 2026

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2 min read

It Took 18 Years to Go from Dow 10,000 to 20,000. The Last 10,000 Points Took Two.

The market isn’t just climbing — it’s accelerating. And that changes what your portfolio needs to look like.

Ray Calloway
Ray Calloway
California Has Lost 1.4 Million Residents to Other States Since 2020.

May 21, 2026

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2 min read

California Has Lost 1.4 Million Residents to Other States Since 2020.

The biggest state-to-state migration in modern history — and it’s still going.

Ray Calloway
Ray Calloway
One Company Is Worth $5.4 Trillion. It Reports Earnings Tonight.

May 20, 2026

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2 min read

One Company Is Worth $5.4 Trillion. It Reports Earnings Tonight.

Nvidia is now worth more than the entire economy of Germany — and what it says after the bell today could move your retirement account.

Ray Calloway
Ray Calloway
It Took 3.5 Years of Income to Buy a Home in 1985. Today It Takes 5.

May 19, 2026

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2 min read

It Took 3.5 Years of Income to Buy a Home in 1985. Today It Takes 5.

Your kids aren’t bad with money. The math just changed — and yesterday’s homebuilder data says it’s not getting better soon.

Ray Calloway
Ray Calloway
Jerome Powell Leaves the Fed Today With the Worst Inflation Record in 40 Years.

May 15, 2026

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2 min read

Jerome Powell Leaves the Fed Today With the Worst Inflation Record in 40 Years.

Average inflation hit 3.8% on his watch — nearly double the Fed’s own 2% target. Kevin Warsh inherits the mess.

Ray Calloway
Ray Calloway
The S&P 500 Just Hit a Record. So Did Wholesale Inflation.

May 14, 2026

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2 min read

The S&P 500 Just Hit a Record. So Did Wholesale Inflation.

One of these two trends is lying to you. The question is which one.

Ray Calloway
Ray Calloway
Inflation Is 3.8%. But Your Fuel Oil Is Up 54%

May 13, 2026

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2 min read

Inflation Is 3.8%. But Your Fuel Oil Is Up 54%

The headline number hides a grocery receipt and a gas pump that tell a very different story.

Ray Calloway
Ray Calloway
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